Read this in the newspapers today: Has it really come to this?

S'pore costlier than New York
It is the 14th most expensive city for expatriates in the world and 5th in Asia

June 19, 2007
Living in Singapore is now costlier than in New York.

It is now the 14th most expensive city for expatriates in the world and 5th in Asia, according to a survey of cost of living by Mercer Human Resource. Moscow is the most expensive city for expats for the second year running, followed by London, Seoul, Tokyo and Hong Kong.

The survey covered 143 cities across six continents and measured the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is used to help multinational companies and government determine compensation allowances for their expatriate staff.

The fast-rising housing cost was the cause of the rise in Singapore's ranking, which moved up three places from last year. But the survey found that despite the recent spiralling prices of properties, Singapore is still relatively cheaper than other cities in the region. For example, the rent of an upmarket two-bedroom unfurnished apartment here costs less than half of what it is in Hong Kong. Human resource consultants said expatriates here have been badly hit after rentals soared by 25 per cent to 35 per cent in the last 12 months. MNCs are concerned that this will affect bottom-lines. Although it may be more costly to live here than other major cities, expats can expect the best services from the government. A global research report from consulting firm Accenture has ranked the Singapore government as delivering the best customer services in the world, ahead of Canada and the US. Accenture said Singapore topped the ranking because of its strong combination of innovative customer-centric vision and entrepreneurial attitude, backed by an aggressive approach to implementation. The report is the eighth in a series of annual reports from Accenture that examines the customer-service service challenges, maturity and practices of governments around the world. -- AsiaOne